Insurance Policies and Contracts Inspection in Florida

Question:

Is it true that an HOA cannot purchase Property insurance unless they go through a Property Manager? (Not HO6 coverage, but the policy that covers the roofs, common areas etc)
Are HOA’S (OR THEIR CHOSEN /HIRED Property Manager required to supply copies of the insurance policy and any /all vendor agreements to the residents if requested? If they are, is there a time frame that these copies and documents must be provided within?
Do Property Managaers or Board members sign contracts for items such as rood repair or replacement?

– Aimee

 

Answer:

Hi Aimee,

Homeowners associations can purchase property insurance even without going through a property manager. HOAs are also allowed to request a copy of their insurance policy and vendor agreements from their HOA manager or HOA management company. Make sure to check your contract with your manager or management company to know if there is a timeframe for requesting and inspecting such records. As for contract signing, it is best that the HOA board signs the contracts unless otherwise specified in your governing documents.


Disclaimer:
We are not lawyers. The information provided on this website does not constitute legal advice.

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